Patriot Scientific

Patriot Scientific Reports Profitable Quarter; Q3 FY '08 Net Income $6.3 Million or $0.02 Basic and Diluted Earnings Per Share.

From the Liquidity and Management's Plans section of the 10-Q:

"Any additional funding provided to TPL by PDS would be in exchange for additional services and/or concessions to existing contracts. In the event that we provide funding to PDS that is not reciprocated by TPL, we may determine that we have controlling financial interest in PDS, in which case, we would be required to consolidate PDS in our consolidated financial statements. If we determine that it is appropriate to consolidate PDS, we would measure the assets, liabilities and noncontrolling interests of PDS at their fair values at the date that we have the controlling financial interest."

I expect that TPL/Alliacense will bring in just enough license revenues to make sure this doesn't happen. Leckrone will not allow PTSC to gain controlling interest in PDS.

And even if we did gain control, what would our BoD do differently? Do they have a contigency plan in place if this happened?

We will continue business as usual. As someone else has stated - "Nothing has changed."

If the Markman substantially goes our way, we may still have a long trial ahead of us with the T3.

Buckle your seat belts.

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caneycreekfan
City
Arkansas
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01/11/2008
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Patriot Scientific
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PTSC
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